Wall Street ends higher on US-China trade hopes

Economies.com
2019-01-17 21:19PM UTC

US stock indices closed the fourth session of the week higher after reports US Treasury Secretary Stephen Mnuchin is discussing plans to lift some or all tariffs on Chinese imports during upcoming negotiations on January 30, according to a report by the Wall Street Journal, which was then disputed by the Treasury Department's spokesman. 

 

Earlier US data showed unemployment claims fell 3 thousand to a total of 213 thousand in the week ending January 12, while continuing claims for the week ending January 5 rose 18K to 1.737 million. 

 

The Philly Manufacturing Index rose to 17 from 9.4 in December, beating estimates of 9.7 easily. 

 

Indices, Commodities 

 

Dow Jones rose 0.67%, or 162.94 points to 24,370.10, while Standard and Poor's 500 added 0.76%, or 19.86 points to 2,635.96. Nasdaq Composite rallied 0.71%, or 49.77 points to 7,084.46. 

 

Gold futures due in February fell 0.17% to $1,291.70 an ounce, while the dollar index shed 0.02% to 96.04 off January 4 highs. 

 

US crude futures due in February shed 0.10% to $52.25 a barrel, while Brent March futures inched up 0.03% to $61.20 a barrel. 

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